Auction.com Haul for January Hits $353M

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The Murworth Apartments in Houston was auctioned on Dec. 12; the sale closed on Jan. 31.

IRVINE, CA—Auction.com hit another milestone high through its online real estate sales platform. The firm racked up $353 million in aggregate sales for the month of January, closing 62 commercial assets.

Eric Paulsen, EVP and general manager of Auction.com’s commercial division, says “At a time when we’re seeing more capital hit the marketplace and values creep toward 2007 levels in major metropolitan areas, we’re seeing an incredibly high volume of commercial sales through our platform. This is indicative of Auction.com’s continued strength and success in the post-recession marketplace.”

GlobeSt.com was unable to reach Auction.com prior to deadline to discuss any similarities the firm sees among the assets it is selling of late. Among the closings seen for the month of January are:

The Avenues, a 338,675-square-foot multifamily complex located in Atlanta, listed by Marcus & Millichap

A 242,212-square-foot industrial building located on North Mountain Springs Parkway in Springville, UT, listed by Newmark Grubb ACRES

The Atrium Tower, a 106,751-square-foot office building in Orlando, listed by Marcus & Millichap

The East Gwinnett Business Park, a 56,900-square-foot industrial complex in Loganville, GA., listed by Colliers International

The Murworth Apartments, a 10,796-square-foot multifamily complex in Houston.

Auction.com has been making news lately for other reasons. As GlobeSt.com reported last week, the firm received a $50-million investment from Google Capital. Earlier this week, president Jake Seid told GlobeSt.com, “The investment really validates our vision for using the Internet to transact real estate. We focus on making the process more transparent for the buyer, seller and broker. For Google Capital, their mission is to invest in late-stage businesses that are fundamentally transforming large markets, and we were their bet in real estate.” In addition, the firm was recently recognized by HousingWire magazine as a leading tech innovator in the US housing economy.

About Our Columnist

Carrie Rossenfeld is a reporter for the West Coast region of GlobeSt.com and Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.